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Women shop for bread at a market in Ankara on December 20, 2021 as Turkey's troubled lira took a nosedive after Turkish President cited Muslim teachings to justify not raising interest rates to stabilise the currency.
Food and Rent Unaffordable as 20 Percent Inflation Hits Turkey
Turkish citizens are reeling under the pressure of inflation and what many believe is President Recep Tayyip Erdogan’s incompetent way of dealing with the dilemma. Just a year ago, many citizens were living a life...
To deal with inflation, reduce spending on goods that have seen the largest price increases.
How to Prevent Inflation From Eroding Your Finances
Americans are facing sticker shock when it comes to the prices of necessities like food, rent, gas, cars, and clothing. This has left consumers wondering how to prevent the rising prices from adversely impacting their...
3 Key Factors Behind the Solomon Islands Anti-China Riots
The Solomon Islands, a country in the southwestern Pacific Ocean home to roughly 680,000 people, has faced civil unrest in recent months. Violent protests broke out in late November after Prime Minister Manasseh Sogavare was...
China Mass Testing
China Fights New COVID-19 Waves in Zhejiang and Xi’an, Quarantining Thousands
Recently, the epidemic situation in the cities of Ningbo, Shaoxing and Hangzhou in southeastern China’s Zhejiang Province has intensified with the area’s first major COVID-19 cluster this year.  As of mid-December, hundreds of thousands of...
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Chinese Real Estate Firms Pressured With Pending Wage Dues and Bond Payments
Property developers in China are facing a tough time financially. Many are unable to pay their suppliers and contractors, putting existing and future projects in limbo. Some are not in a position to pay off...
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Intel Apologizes to ‘Respected Chinese Customers’ Over Its Decision to Avoid Products From Xinjiang
Intel recently asked some of its suppliers in China not to procure products or services from Xinjiang, the northwestern region where more than 1 million members of the Uyghur minority people have reportedly been sent...
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PCE Inflation at Highest Level in 4 Decades
The Federal Reserve’s preferred gauge of inflation, the Personal Consumption Expenditures (PCE) index, rose to its highest level in almost four decades in November. Consumer spending accounts for around 70 percent of economic activity in...
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US-listed Chinese Companies Lost $600 Billion This Year
According to the U.S.-China Economic and Security Review Commission, there were 248 Chinese companies listed in various American exchanges in May. These firms had a total combined market cap of $2.1 trillion. Now, the value...
Erdogan’s policies have crashed the value of the lira.
Turkish President Defends Low Interest Rates, Asks People to Save in Lira
With inflation soaring and the value of the lira plummeting, many experts believe that Turkey could be headed towards a full-scale financial crisis. Having lost more than 40 percent of its value against the U.S....